Green day on Monday for Palantir stock after gaining 0.98%
StockInvest.us, 1 month ago
The Palantir stock price gained 0.98% on the last trading day (Monday, 30th Sep 2024), rising from $36.84 to $37.20. During the last trading day the stock fluctuated 3.24% from a day low at $36.15 to a day high of $37.32. The price has risen in 6 of the last 10 days and is up by 2.45% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 952 thousand more shares were traded than the day before. In total, 42 million shares were bought and sold for approximately $1.55 billion.
On Sep 26, 2024, it was reported that Wedbush gave PLTR a "Buy" grade with a "hold" action.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 41.63% during the next 3 months and, with a 90% probability hold a price between $44.13 and $55.03 at the end of this 3-month period.
The Palantir stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $37.19 and $33.49. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, August 05, 2024, and so far it has risen 54.42%. Further fall is indicated until a new bottom pivot has been found.
On the downside, the stock finds support just below today's level from accumulated volume at $34.60 and $29.28.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Palantir finds support just below today's level at $34.60. If this is broken, then the next support from accumulated volume will be at $29.28 and $28.67.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.17 between high and low, or 3.24%. For the last week, the stock has had daily average volatility of 2.87%.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Palantir stock to perform well in the short-term.
Check full Palantir forecast and analysis here.